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WorksheetsFactors of Production
Total questions: 10
Worksheet time: 16mins
Define three factors of production
labor, capital and natural
resources.
labor, money and natural
resources.
labor, capital and
resources.
Explain the role of technology and entrepreneurs in the utilization of the economy‘s factors of production.
The technology - the knowledge that can be applied to the production of goods and services
An entrepreneur is a person who, operating within the context of a market economy, seeks to earn profits by finding new ways to organize factors of production.
Both above
To derive перевод
следовать, заниматься (чем-либо)
удовлетворять, отвечать (требованиям,
стандартам)
получать, извлекать, происходить
Utility перевод
польза
общественная полезность
польза, общественная полезность
To apply перевод
применять
употреблять
обращаться с просьбой, просить (о чем-либо)
all above
Cleaver. Choose the picture
Define two forms of labor.
the human equivalent of a natural resource & human capital
the natural ability an untrained, uneducated person brings to a
particular production process
the skills a worker has as a result of education, training, or
experience that can be used in production
How can the amount of labor available to an economy be increased?
the total quantity of labor
the average number of hours of work per week
the amount of human capital possessed by workers
all above
What was the first capital used in producing other goods?
saws, meat cleavers, hooks, and grinders
hammers, screwdrivers, and wrenches
shaped stones
What natural resources do you know?
air, water, wood
oil, wind energy, natural gas
air, water, wood, oil, wind energy, natural gas, iron, and coal
